Copyright Benzinga
Atlassian Corp (NASDAQ:TEAM) reported financial results for the first quarter of fiscal 2026 after the bell on Thursday. Here’s a rundown of the report. TEAM is among today’s top performers. Check the analyst take here. Q1 Highlights: Atlassian reported fiscal first-quarter revenue of $1.43 billion, beating analyst estimates of $1.40 billion, according to Benzinga Pro. The collaboration and productivity software provider reported first-quarter adjusted earnings of $1.04 per share, beating analyst estimates of 84 cents per share. Total revenue increased 21% year-over-year, driven by Cloud revenue growth of 26% year-over-year. Atlassian generated $129 million in cash flow from operations and $115 million in free cash flow during the period. The company ended the quarter with $2.8 billion of cash, cash equivalents and marketable securities. “Our relentless pace of AI innovation is driving results as we grew Cloud revenue in Q1 to $998 million, up 26% year-over-year, and surpassed 3.5 million monthly active users of our AI capabilities, up 50% quarter-over-quarter,” said Mike Cannon-Brookes, co-founder and CEO of Atlassian. Atlassian’s board authorized a new share repurchase program for up to $2.5 billion, set to take effect following the completion of the company’s $1.5 billion buyback program announced in September 2024. Outlook: Atlassian expects fiscal second-quarter revenue to be in the range of $1.535 billion to $1.543 billion versus estimates of $1.514 billion. “Our customers are choosing us as their strategic AI platform — not only for the innovation we’re shipping — but for the enterprise security, governance, and permissioning, underpinned by our Teamwork Graph and powering the business processes and workflows of over 300,000 customers,” Cannon-Brookes added. Atlassian also announced CFO Joe Binz will retire from the company, effective June 30, 2026. The company said it has initiated a search for its next CFO. TEAM Price Action: Atlassian shares were up 6.30% after-hours, trading at $170.80 at the time of publication on Thursday, per Benzinga Pro. Read Next: Western Digital Stock Darts Higher Following Q1 Earnings Image: Shutterstock.com
